113Revocation of approval of appointment of auditor or

113 Revocation of approval of appointment of auditor or actuary (1) The Minister may, in writing, revoke the approval of a person’s appointment as auditor or actuary for an approved scheme if satisfied that the person— (a) has failed to exercise adequately and properly the functions of the appointment under this Act; or made or in force under the Act, including regulations (see Legislation (b) does not meet 1 or more of the criteria for fitness and propriety prescribed under the prudential standards; or (c) does not meet the eligibility criteria for the appointment prescribed under the prudential standards. (2) The revocation of the approval takes effect on the day the revocation is made. (3) The Minister must give a copy of the revocation to the person and to the trustees of the approved scheme.